Aster Healthcare eyes Rs 1,000 cr investment in 5 new hospitals

Aster DM Healthcare, one of the few publicly traded hospital chains in India, is planning to invest over Rs 1,000 crore in five new hospitals outside Kerala. The Kochi-based hospital chain is will be adding 2,000 beds in the hospital properties, in the next two to three years.

The hospital chain, which kick-started in Dubai as a drug distributor in the year 1987, will be adding one more facility each in Hyderabad, Bangalore and Chennai and two more in Andhra.

The chain currently runs six hospitals in the country with 4,500 beds. Out of which 3,000 beds are in Kerala while rest are in three other states.

It also operates 1,000 beds across six hospitals in the Gulf which is its cash-cow with over 70 per cent of revenue flow, spanning all GCC countries.

Speaking on the latest development, Aster DM Healthcare Founder and Chairman Azad Moopen in an interaction with media, said, “We are investing over Rs 1,000 crore to add over 2,000 beds to our existing 4,500 beds in the next two-three years. These hospitals will be on an asset-light model, where we will be operating and managing the facility. Chennai will have the first of these new hospitals at an investment of over Rs 550 crore”.

Notably, Aster Healthcare went public in February 2018 with a Rs 980-crore IPO. The company witnessed a rise of 1.4 per cent in its share taking the value to Rs 122.05 on BSE, while the benchmark was down 0.2 per cent.